Businesses told to prepare for Tet
Businesses told to prepare for Tet
To boost sales at the peak shopping season for Tet (Lunar New Year), Vietnamese enterprises need to pay more attention to customer demand in each region in order to map out proper production and distribution plans, delegates told a seminar in HCM City on Friday.
Tran Thai Ha, a representative from the market research firm Nielsen Viet Nam, said the most-mentioned products during Tet include beer, beverages, coffee, and confectionaries. But the demand was different in each region in the period.
For instance, during last Tet, sales of beer and beverages increased significantly compared to normal time in the south, but in the north, beer and beverages sales slightly reduced, while demand for confectionary went up strongly, she said.
Firms usually release their Tet products in early November, but with the 2017 Tet falling on January 28, earlier than in previous years, businesses should prepare commodities for Tet early, she said.
Besides, to increase sales during peak season, firms should make efforts to bring their products into retail stores and launch promotional programmes.
Despite the Viet Nam economy showing signs of slowing, its retail sales growth has remained high, she said.
She also shared the top five factors that influence custome decisions over where to buy products. They are availability, quality, location, store personnel and product assortment.
More and more Vietnamese shoppers look for products with healthy ingredients, she said, adding that this is a good opportunity for retailers to boost sales of these products.
Overseas expansion
Delegates at the seminar also shared their experience in penetrating overseas markets.
Nguyen Dang Hien, general director of Tan Quang Minh Manufacture and Trading Co Ltd ( Bidrico), said by participating in trade fairs held in Myanmar's big cities, his company found local distributors to distribute its products.
Bridico chose to penetrate the modern trade channels first, by selling its products at a supermarket there, where Myanmar consumers give priority to go for shopping, before distributing its products in the traditional channels, he said.
Philip Zerillo from the Singapore Management University said finding a proper distributor is the most important factor in helping businesses distribute their products abroad. Businesses should find distributors that give them insights in the local market, so they know how to adapt their pricing and products, he said.
Pham Thanh Binh, chairman and general director of Bich Chi Food JSC, said 10 years ago, his company only sold in the domestic market, but its earning from exports currently account for 66 per cent of its total revenue, with its processed farm produce available in all ASEAN countries.
To succeed in overseas markets, firms must conduct market research to develop suitable products for the target markets, he said.
